Disclosure of 1Q15 Results

Transcription

1 Disclosure of 1Q15 Results Investor Relations Presentation: José Rubens de la Rosa CEO José Antonio Valiati CFO & Investor Relations Officer Thiago Deiro Finance & Investor Relations Manager Caxias do Sul, May 5 th, 2015.

2 DISCLAIMER This presentation contains future information. Such information is not simply historical facts, but reflects the desires and the expectations of the Company s leadership. The words anticipates, desires, hopes, forecasts, intends, plans, predicts, projects, wishes and similar ones, intend to identify affirmations that necessarily involve known and unknown risks. Known risks include uncertainties that are not limited to the impact of the competitiveness of the prices and services, market acceptance of services, the Company s service transitions and its competitors, the approval of regulations, currency, fluctuation in the exchange rate, changes in the mix of services offered, and other risks described in the reports of the Company. This presentantion is updated until the present date. However, Marcopolo is not obligated to update it with new information and/or future events.

3 OUTLINE 1Q15 Highlights Outlook for 2015 Operating and Financial Results Capital Market

4 HIGHLIGHTS Brazilian Bus Production 1Q15 1Q15/1Q14 Domestic Market: 4,380 units % External Market: 665 units % Total Market: 5,045 units % Marcopolo Production / Destination Brazil: 2,454 units -18.8% External Market: 838 units % Total: 3,292 units -11.5% Market Share in Brazil: 41.2% 4

5 HIGHLIGHTS 1Q15 1Q15/1Q14 Net Revenues: R$ million -11.5% Gross Profit: R$ million -12.9% Gross Margin: 17.1% -0.3pp EBITDA: R$ 65.8 million -12.0% EBITDA Margin: 10.0% -0.1pp Net Profit: R$ 34.0 million -37.4% Net Margin: 5.2% -2.1pp 5

6 OUTLINE 1Q15 Highlights Outlook for 2015 Operating and Financial Results Capital Market

7 2015 OUTLOOK - BRAZIL Expectation of official publication by ANTT of the rules of authorization model to the interstate lines, which could unlock the demand for intercity segment; The devaluation of the Brazilian real against the U.S. dollar is favorable to exports; FINAME-PSI line with still competitive rates compared to market interest rates; Less favorable economic and political scenario, with worse financing conditions is impacting the demand at the beginning of this year; Order book weaker than normal for the period; Collective vacation and flexible work hours; First phase of the new Volare s facility in the state of Espírito Santo has already started (assembly of CKD kits sent from Caxias). The launch of the 5-ton model is expected for the second half

8 2015 OUTLOOK - OVERSEAS India: Good results in 1Q15. Improved efficiency, combined with already sales done for the government should ensure 2Q15 also positive; Argentina: The local demand still below of normalized levels. Restrictions on Brazilian exports; Colombia: Expectation of stable results in 2015 when compared to 2014; Mexico: Increased of production and sales in 1Q15 compared to 1Q14. Expectation of better sales mix with greater intercity buses; South Africa: Positive results and is expected a flat year when compared to 2014; Australia: The ongoing Transformation Program in place since 2014 has already reflected in the Company results; Egypt: 1Q15 results greater than 1Q outlook is overpass the 2014 results; China: Production of bus bodies for exports should result in better operating margins; Canada (New Flyer): Expectation of better prices and margins in

9 OUTLINE 1Q15 Highlights Outlook for 2015 Operating and Financial Results Capital Market

10 TOTAL PRODUCTION (units) & MARKET SHARE (%) Marcopolo s Total Production 20, % 20% 17,713 23% -11.5% EM DM 3,719 19% 81% 3,292 25% 75% 80% 77% 1Q14 1Q Marcopolo s Market Share in Brazil pp -0.2pp Q14 1Q

11 FINANCIAL HIGHLIGHTS (R$ Million) Total Net Revenues -7.1% 3, , % 34% -11.5% EM DM % 72% % 55% 69% 66% 1Q14 1Q Gross Profit and Margin % % % 17.1% 20.0% 17.4% 1Q14 1Q

12 FINANCIAL HIGHLIGHTS (R$ Million) EBITDA and Margin % % ,8 10.1% 10.0% 11.9% 9.0% 1Q14 1Q Net Profit and Margin % % % 5.2% 8.0% 6.6% 1Q14 1Q

13 FINANCIAL HIGHLIGHTS (R$ Million) Net Equity & ROE +3.8% +8.7% 1, , , , % 14.1% 22.5% 14.8% 4Q14 1Q ROIC (%) -0.1pp pp Q14 1Q

14 FINANCIAL HIGHLIGHTS (R$ Million) Investments % % Q14 1Q Net Indebtedness -2.6% 1, , ,040.8 Net Debt (Industrial Segment)/LTM EBITDA 1.1x 0.3x - 0.9x 0.3x 0.9x 0.9x 1.6x 1.6x 1.5x Q15 = Financial Segment = Industrial Segment 14

15 OUTLINE 1Q15 Highlights Outlook for 2015 Operating and Financial Results Capital Market

16 SHAREHOLDING DISTRIBUTION Common Shares 11.5% Other Shareholders 3.9% 3.0% Marcopolo Norges Bank Foundation 15.2% Fund. Bco. Central - CENTRUS 66.4% Controlling Shareholders As of March 31 st,

17 SHAREHOLDING DISTRIBUTION Preferred Shares 15.0% Fundo Petrobras Seg. Soc. - Petros 3.9% Jose Antonio F. Martins 1.2% Marcopolo Foundation 1.4% Controling Shareholders 22.8% Other Shareholders in Brazil 55.7% Foreign Shareholders As of March 31 st,

18 STOCK PERFORMANCE Marcopolo PN x Ibovespa - Base 100 POMO4: -49.2% IBOV: +1.5% 50,414 pts 51,150 pts R$ 4.55 R$ /31/2014 6/30/2014 9/30/ /31/2014 3/31/

19 SHARE LIQUIDITY & VALUATION Average Daily Volume (R$ MM) Market Cap (R$ Million) Marcopolo PN - POMO4 45,0 40, , ,0 25,0 20,0 15,0 10,0 5,0 - Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar Average Daily Volume (R$ MM) Market Cap (R$ MM) 19

20 INVESTOR RELATIONS CONTACT José A. Valiati CFO & Investor Relations Director Tel: + 55 (54) Thiago A. Deiro Finance & Investor Relations Manager thiago.deiro@marcopolo.com.br Tel: + 55 (54) Rafael L. Ritter Investor Relations Analyst rafael.ritter@marcopolo.com.br Tel: +55 (54) Varleida C. P. Perin Investor Relations Analyst varleida.perin@marcopolo.com.br Tel: +55 (54) ri@marcopolo.com.br